UPDATE 1-Regal 3rd-qtr results disappoint, box office slides - News

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UPDATE 1-Regal 3rd-qtr results disappoint, box office slides

By: AFX | 29 Oct 2009 | 05:22 PM ET

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LOS ANGELES, Oct 29 (Reuters) - Regal Entertainment Group , the No. 1 U.S.

movie theater operator, posted lower-than-expected results on Thursday, saying lower box office attendance and a shift in its financial calendar had hurt its performance. The company reported a net loss of $1.8 million or 1 cent per share, compared with a profit of $31.0 million or 20 cents per share a year earlier. Excluding items, Regal posted earnings of 5 cents per share, compared with earnings of 25 cents per share a year earlier. Analysts, on average, had expected Regal to report earnings of 7 cents per share, according to Thomson Reuters I/B/E/S. Revenue fell to $673.5 million from $757.6 million a year earlier, lagging analysts' average estimate of $701.8 million. Regal's third quarter this year began July 3 and ended Oct. 1, compared with last year's June 27 to Sept. 25. Analysts said Regal's new third quarter would suffer in comparison because it omitted the first part of a traditionally busy July 4th U.S. Independence Day holiday week. Its shares rose to $12 after hours, after closing the regular session at $11.96. (Reporting by Susan Zeidler) Keywords: REGAL (susan.zeidler@thomsonreuters.com; +1 213 955 6748; Reuters Messaging: susan.zeidler.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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